In APAC, online payments are dominated by digital cashless payments. 87% of payments on Southeast Asia’s e-commerce platforms are done using digital payments, as of 2024. When it comes to digital payments, banks and financial institutions face growing pressure to deliver both frictionless user experiences and robust security. Technologies like Click to Pay, Passkeys, and tokenized transactions are emerging as key enablers of trust, convenience, and compliance. In this webinar, we’ll explore: Regional trends in Asia shaping the future of digital payments and E-commerce How Click to Pay is transforming the online checkout experience across digital channels The role of Passkeys and Cloud-Token Framework in enabling secure, passwordless authentication that reduces fraud, safeguards customer data and boosts the approval rate Best practices for integrating these innovations into existing banks and financial services’ infrastructure Speakers: Duranta De, Director, Enterprise Product APAC, Worldpay Mila Bedrenets, Chief Growth Hacker, Tonik Hunny Huria, Senior Director – Product Management, Asia Pacific, Visa Lokesh Singh, Head of Digital Payments, Thales Moderator: Shaun Ferrari, Independent Host, Currency Research The post Webinar – Redefining Payment Checkouts: The Road Ahead in APAC appeared first on Fintech Singapore.

Mastercard has launched the Global Reach Partner Program, a new initiative designed to help its customers expand into international markets more easily. The program is available to qualifying Mastercard issuing partners, including banks, fintechs, crypto players, merchants, marketplaces and digital platforms. As more companies look to operate across multiple countries, Mastercard says the program offers a tailored and scalable framework to streamline the rollout of international card programs. It is designed to reduce the complexities and delays often associated with entering new markets and to support partners in delivering card services more efficiently. Through the Global Reach Partner Program, participating issuers can access Mastercard’s consulting, advisory and implementation services to refine go-to-market strategies, design target operating models and coordinate rollouts. The framework combines faster market entry, simplified processes, operational efficiency and a customised approach tailored to each partner’s needs. A dedicated global enablement team will also provide consistent in-market expertise. Eimear Creaven Eimear Creaven, Co-President Global Partnerships at Mastercard said, “Our customers, their priorities, and their challenges, shape how we design, build and evolve our propositions. We have created Global Reach to embrace the market expansion ambitions of our partners, simplify their go-to-market roadmap, and serve their customers in more markets in the world.”     Featured image: Edited by Fintech News Singapore, based on image by tahantanha10 via Freepik The post Mastercard Launches New Initiative to Simplify Global Card Rollouts appeared first on Fintech Singapore.

DBS Private Bank’s multi-family office arm has attracted S$1 billion (about US$780 million) just two years after its launch, and the Singapore lender expects assets to double by 2026, according to Reuters. The unit, known as DBS Multi Family Office Foundry VCC, offers wealthy families a ready-made platform for managing investments in Singapore instead of building bespoke single-family offices. The bank takes care of administration while clients direct their own portfolios. Fresh funds have come from families in Europe, India, Greater China and other parts of Asia, reflecting Singapore’s status as a growing centre for private wealth. DBS says it is negotiating with more than 15 potential entrants and aims to lift total assets to S$2 billion within the next two years. Set up in 2023, the platform has already onboarded over 25 families. Each sub-fund requires at least S$15 million and uses Singapore’s variable capital company framework, a structure designed to speed up onboarding compared with traditional family office arrangements. DBS also sees the service as a stepping stone for families weighing a permanent move to Singapore’s wealth ecosystem. The bank says it now works with over one-third of the single-family offices in the city-state and that assets linked to family office clients have more than doubled over the past two years.     Featured image: Edited by Fintech News Singapore, based on image by DBS Bank    The post DBS Multi-Family Office Platform Reaches S$1 Billion in Assets After Two Years appeared first on Fintech Singapore.

Singapore lawmakers were told that Tokenize Xchange’s collapse has left customer funds in limbo, with court-appointed managers estimating more than S$266 million owed as of 15 August 2025. Tokenize Xchange, operated by Amazingtech Pte Ltd (ATPL), was not licensed by the Monetary Authority of Singapore (MAS) but had been allowed to operate under a temporary exemption during the transition to the Payment Services Act 2019. Its non-licensed status was disclosed on MAS’ website and in ATPL’s customer agreement. The exemption would have ended if the licence application was withdrawn, approved or rejected, and following MAS’ rejection, ATPL was required to wind down its payment services business. MAS received multiple complaints from users about delayed withdrawals and later found ATPL might lack sufficient assets, mishandled client funds and misled on asset segregation. The case has been referred to the Singapore Police Force’s Commercial Affairs Department, which is investigating possible offences, and ATPL director Hong Qi Yu was charged in July 2025 under the Insolvency, Restructuring and Dissolution Act. ATPL was placed under interim judicial management on 15 August 2025 following a petition by several creditors. MAS said it does not have the requested data because ATPL is not regulated by the authority. Interim judicial managers reported to the High Court on 9 September 2025 that ATPL owed an estimated S$266.3 million in monies and digital assets as of 15 August. By that date, 2,241 customers had lodged their details with the managers, and customers who have not done so are urged to register with them. MAS reiterated that cryptocurrencies are not suitable for retail investors and urged the public to transact only with licensed entities. It added that MoneySense has stepped up education efforts this year, warning about risks such as rug-pulling and pump-and-dump schemes, and advising people to avoid placing money with unclear parties or into high-risk schemes they do not fully understand.     Featured image: Edited by Fintech News Singapore, based on image by wichayada via Freepik The post Tokenize Xchange Collapse Leaves S$266.3 Million Owed to Users appeared first on Fintech Singapore.

Pand.ai, an AI solutions provider for financial institutions, has spun off a new company called Pangentic. The AI-native insurtech, a wholly-owned subsidiary of Pand.ai, will focus on its AI-powered insurance broker GINA. The new venture is backed by Zheng Yudong, the former CEO of MariBank. Pangentic will take GINA, which is currently active in the Singapore market, to a global audience. The GINA platform is an AI-first insurance broker that uses AI to provide transparent pricing and intelligent recommendations. It has been noted for its high conversion rates, with over half of quotes converting into purchases in Singapore. Additionally, roughly a third of GINA users come from referrals. Chuang Shin Wee Chuang Shin Wee, Founder of Pand.ai and Pangentic, said, “GINA proves the power of an AI-native approach of delivering value at scale with capital efficiency. With Pangentic, we’re taking GINA to overseas markets.” Zheng Yudong Zheng Yudong, Lead Investor and former CEO of MariBank, added, “What impressed me most about GINA is how it has combined deep insurance expertise with AI-driven efficiency to achieve results that most insurtechs struggle to match, even with far larger budgets. Pangentic represents the next stage of this journey, and I am excited to support the team as they bring this proven model to international markets.”     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik The post Pand.ai Spins Off Pangentic, an AI Insurtech Backed by Former MariBank CEO appeared first on Fintech Singapore.

Crypto exchange Coinbase is adding the Singapore dollar-backed XSGD to its platform, giving users access to the MAS-recognised stablecoin. The move follows a partnership with Singapore-based StraitsX and marks the first time the Singapore dollar stablecoin will be available to Coinbase users globally. This forms part of Coinbase’s ongoing APAC expansion. XSGD, issued by StraitsX, is pegged one-to-one to the Singapore dollar and has been recognised under the Monetary Authority of Singapore’s upcoming Single Currency Stablecoin regulatory framework. It joins Coinbase’s existing roster of US dollar-based stablecoins and offers individuals and businesses a local currency option for trading and payments. The token will go live on Coinbase and Coinbase Advanced from 19:00 UTC on 29 September and will also be issued on Base, Coinbase’s low-cost Ethereum Layer 2 chain. Users will be able to access XSGD through decentralised exchanges on Base. This is aimed at enabling decentralised foreign exchange transactions and on-chain liquidity pools such as the initial XSGD/USDC pool launching on Aerodrome, with liquidity incentives supported by both Aerodrome and the Base ecosystem. Coinbase and StraitsX will jointly build liquidity pools across different currency corridors. The listing is intended to support more efficient local and cross-border payments and FX transactions, while offering builders new ways to integrate Singapore dollar-denominated stablecoins into digital asset services. Both companies are licensed Major Payment Institutions in Singapore. Hassan Ahmed Hassan Ahmed, Country Director of Coinbase Singapore, said, “Stablecoins are redefining how payments move across borders. With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet. Enabling easy, quick FX transactions brings more of our users across the globe closer and gives them greater access to the global financial system – supporting our mission of increasing economic freedom.” Tianwei Liu Tianwei Liu, CEO & Co-Founder of StraitsX, said, “The launch of XSGD on Coinbase is a big step forward, not just for Singapore, but for the entire digital asset ecosystem. By enabling seamless, direct access to local currency stablecoins, we are breaking down the USD-centric barriers that have long limited on-chain FX markets. This partnership brings us closer to a truly multi-currency and frictionless global financial system that we’ve been building toward since day one.” See more of Tianwei Liu’s views on stablecoins in our webinar replay here.    Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Coinbase Users Will Soon Be Able to Access and Trade XSGD Stablecoin appeared first on Fintech Singapore.

Amber International, which operates as Amber Premium, has launched institutional-grade digital asset management services as part of its move into the Digital Assets Treasury (DAT) sector. The Singapore-based company said it is responding to growing corporate demand for more sophisticated tools to manage digital assets. Data from BitcoinTreasuries.net shows 179 publicly listed companies globally hold more than US$110 billion worth of Bitcoin, yet many lack the infrastructure for secure custody, compliance oversight and risk management. Amber Premium said its new services will provide integrated support for corporations investing in digital assets. This includes consulting, trading solutions, financing, custody and compliance support, delivered in line with regulatory requirements and, where applicable, through licensed partners. The firm aims to help clients move away from fragmented, buy-and-hold approaches by offering a single platform to manage their digital asset needs, supported by 24/7 customer service covering everything from initial planning to long-term management. The company said it is drawing on its experience working with publicly listed firms, including DeFi Development Corp, to build services that address both the operational and regulatory challenges of digital asset management. Looking ahead, Amber Premium plans to continue refining its offerings for institutional clients and maintain its focus on compliance, technology and client value. Vicky Wang “This solution is designed to give institutional clients, including publicly listed companies, greater confidence to move forward with digital assets, while helping them navigate regulatory requirements and operational challenges in line with applicable approvals in relevant jurisdictions.” said Vicky Wang, President of Amber Premium.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Amber Premium Rolls Out Digital Asset Treasury Platform for Corporate Clients appeared first on Fintech Singapore.

HSBC has gone live with cross-border tokenised deposits, aiming to give corporate clients faster, always-on settlement between markets. The bank completed its first US dollar transfer between Hong Kong and Singapore in September with Ant International as its pioneer customer. The service builds on HSBC’s earlier rollout for domestic payments in Hong Kong and Singapore and has now been extended to the UK and Luxembourg. It supports additional currencies including the British pound, the euro and the US dollar, with plans to introduce the service to more of the bank’s markets. Using HSBC’s distributed ledger technology, traditional deposits are represented by digital tokens, allowing instant movements directly from corporate systems. By removing cut-off times and time-zone barriers, the service is designed to improve treasury operations and cash flow management. HSBC said the service will support programmability such as conditional payments and settlement of tokenised assets with atomic settlement for greater efficiency. The bank added that the expansion builds on integrations with clients’ enterprise DLT systems in the US, Singapore and Hong Kong, enabling payment initiation from corporate platforms. Manish Kohli Manish Kohli, Head of Global Payments Solutions at HSBC said, “Tokenised deposits represent a major step forward in the future of transaction banking and open new opportunities for our clients. By combining real-time liquidity with programmability and secure settlement through blockchain, we can help clients better manage their liquidity, streamline their operations and future-proof their treasury functions in a rapidly evolving financial landscape with the benefits of emerging forms of digital money and its associated technology.” Kelvin Li Kelvin Li, General Manager of Platform Tech at Ant International said, “This milestone marks the next step in our joint innovation with HSBC on tokenised deposits. We believe tokenisation is key to enabling more efficient, cost-effective and trusted global transactions, and we will continue working with HSBC to make cross-border payments seamless for businesses of all sizes.”     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik The post HSBC Completes First Cross-Border Tokenised Deposit Transfer With Ant International appeared first on Fintech Singapore.

Thailand’s Krungsri teams up with American software development company Informatica to tighten data governance and speed up its digital banking push in Thailand. As part of its digital transformation, the bank is consolidating and managing data previously scattered across business units to improve security, privacy and regulatory compliance. The bank is adopting Informatica’s Cloud Data Governance and Catalog and Cloud Data Quality products, built on the AI-powered Intelligent Data Management Cloud platform. This follows its shift to a hybrid cloud environment on Amazon Web Services (AWS). The tools are designed to help Krungsri address data discovery, metadata management and data quality issues while enhancing trust in its operations. Tul Roteseree “Recognising the pivotal role of data in the banking sector, Krungsri strategically adopts these advanced data governance solutions to enhance data quality, accessibility and integrity. With a scalable and robust governance framework underpinning our cloud-enabled, secure technology infrastructure, we are not only helping to ensure regulatory compliance and boosting operational efficiency but also driving customer-centric innovation and superior customer service to reinforce our leadership in the financial industry.” said Tul Roteseree, Head of Enterprise Data and Analytics Group at Krungsri. Steven Seah “Krungsri’s transformation journey demonstrates how strategic data governance, enabled through our partnership, can help large financial institutions to navigate complex data landscapes, accelerate innovation and realise meaningful operational value. With Informatica as a trusted partner, Krungsri is leading the way in making banking in Thailand truly data-driven and AI-enabled,” said Steven Seah, Vice President for Informatica ASEAN, India and Korea.     Featured image: Edited by Fintech News Singapore, based on image by chocorutn via Freepik The post Informatica Powers Thai Krungsri’s Data Governance Efforts in Digital Banking Push appeared first on Fintech Singapore.

South Korean travelers using Kakao Pay can now tap and pay overseas as Alipay+ and Mastercard extend contactless payments to more than 150 million merchant locations worldwide. Kakao Pay is one of the first Alipay+ mobile payment partners to introduce NFC payments abroad. The new feature lets users with NFC-enabled Android phones tap their device at contactless POS terminals that accept Mastercard in markets including Japan, Southeast Asia, the U.S., Europe and Oceania. It complements existing QR code and barcode-based cross-border payments. The service is live on the latest versions of the Kakao Pay app, with KakaoTalk for Android coming later in September and an iOS rollout planned in the future. “Just as we do in South Korea, we aim to provide the most convenient and rewarding payment experience overseas. Kakao Pay is becoming an essential travel and payment platform that accompanies users at every moment of their overseas trips and fulfils their needs.” said Seung Jun Oh, Head of Payment Group, Kakao Pay. “People today expect payment experiences that are seamless, intuitive, and built into the apps they already trust—like Kakao Pay. Through this partnership, Mastercard is making overseas payments simpler and more secure for Korean users when they travel. Sandeep Malhotra Instead of thinking about how to pay, they can focus on what matters—feeling confident and enjoying the moment, wherever they are in the world.” said Sandeep Malhotra, Executive Vice President, Core Payments, Asia Pacific, Mastercard. Alipay+ said it has been working with Mastercard to expand digital payment acceptance for its partner wallets worldwide.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Kakao Pay Users Can Tap and Pay Overseas via Alipay+ and Mastercard Partnership appeared first on Fintech Singapore.

Payments platform EBANX is stepping up its push into emerging markets by rolling out stablecoin payments, launching AI-powered tools and expanding to the Philippines. The company said merchants will soon be able to accept payments in stablecoins such as USDC and USDT alongside existing fiat options. This move is aimed at providing faster, lower-cost cross-border transactions and more flexible settlement choices in markets where banking infrastructure is fragmented. EBANX also introduced AI-powered systems to improve approval rates, detect fraud and offer deeper payment insights. Its fraud detection tool analyses more than 100 data points per transaction in real time, while a smart routing system adapts dynamically to issuer and network conditions to select the most effective acquiring partners, delivering approval rate increases of up to 10 percentage points. The company has also launched a new dashboard for merchants to track transactions across multiple regions. Alongside these product updates, EBANX confirmed its entry into the Philippines by integrating the country’s two largest e-wallets, GCash and Maya. This will let global merchants offer local payment options without setting up a legal entity, while receiving settlements in US dollars. EBANX also introduced its Payout solution, which enables instant payments to partners and sellers in local currencies through domestic rails such as Pix in Brazil and Nequi in Colombia. The system has a 97% approval rate and processes payments in under 30 seconds. The company also unveiled its Payment Bundles, a framework of four bundles covering up to 1 billion payment users through a single API integration, grouping multiple local payment methods into simplified packages. Both offerings are designed to simplify cross-border transactions and reduce the time it takes for merchants to scale in emerging markets. João Del Valle “Emerging markets are driving the future of digital commerce, and we are building the infrastructure to make that future accessible to businesses and consumers worldwide. Our investment in new products and our commitment to expanding them into new markets reflect our vision of a world where any business can serve any customer, regardless of location or local payment preferences.” said João Del Valle, CEO and Co-founder of EBANX. Eduardo de Abreu “EBANX delivers the speed of blockchain with the convenience of traditional finance, enabling global companies to enter new markets faster, with seamless settlements and no infrastructure roadblocks. Stablecoins are becoming the first truly global payment method, and their impact is especially powerful in emerging economies, where adoption is accelerating faster than anywhere else in the world.” said Eduardo de Abreu, VP of Product at EBANX.   The post Payments Firm EBANX Unveils Stablecoin Offering and Philippines Expansion appeared first on Fintech Singapore.

Crypto.com CEO Kris Marszalek is pushing back against allegations that the exchange concealed a security breach detailed in a Bloomberg report. Bloomberg reported on 19 September that Noah Urban, a teenage hacker linked to the Scattered Spider group, and an accomplice gained access to a Crypto.com employee account in early 2023. The attack exposed some personal data from a small number of users but did not compromise customer funds. Urban was arrested in January 2024 and later pleaded guilty in connection with hacks at multiple companies. In August 2025, a U.S. judge sentenced him to 10 years in prison and ordered forfeiture and restitution. In his post on X, Marszalek said the company filed the required notifications, including a Notice of Data Security Incident under the Nationwide Multistate Licensing System, along with reports to relevant regulators. He said the breach stemmed from a phishing campaign targeting an employee, was contained within hours and involved only limited user information. I want to directly and clearly address some misinformation spreading from uninformed sources… Any suggestion that we did not report or disclose a security incident is completely unfounded – as we reported in a NMLS Notice of Data Security incident filing and in additional… — Kris | Crypto.com (@kris) September 22, 2025     The post Crypto.com CEO Denies Concealing 2023 Breach Linked to Teenage Hacker appeared first on Fintech Singapore.

When Fintech News Network convened a panel of fraud and risk leaders from across Asia Pacific, one thing quickly became clear. The fraud landscape is shifting at a pace that outstrips most financial institutions’ ability to respond. From deepfakes to synthetic identities, and from fraud-as-a-service on the dark web to real-time manipulation of biometric data, criminals are deploying artificial intelligence with a level of speed and precision that few could have imagined even a few years ago. Globally, in 2024, over US$1 trillion was lost to scammers, and the increased use of AI will further accelerate this issue. Some reports are even indicating a 400% increase in Gen AI-enabled scams. The warning is not abstract. With generative AI projected to drive US$40 billion in fraud losses by 2027 in the United States alone, the urgency for banks and fintechs in the Asia Pacific could not be more pressing. The New Face of Fraud Gabby Tomas, Operations Group Head at Rizal Commercial Banking Corporation (RCBC), has been tracking this evolution for years. Gabby Tomas “Gen AI no-code capabilities bring fraud tools to low-level, unskilled actors … we’re seeing crime-as-a-service in the dark web,” he said. For him, the concern is not just the sophistication of the tools but their accessibility. He mentioned that the barriers to entry have gone down significantly. This means that threat actors don’t need a high set of skills to be able to implement a fraud solution. “You just have to know who to talk to,” said Gabby. Albert Dela Cruz, Chief Information Security Officer at GoTyme Bank, echoed that sentiment but sharpened the point. He described this as the industrialisation of fraud, where attacks are now scalable, adaptive, and able to shift in real time mid-conversation. In his experience, attacks now go beyond static impersonations to real-time manipulation. He even suggested that sometimes these attacks dynamically adapt and change during mid-conversation. That adaptability is one of the most unsettling aspects of the new wave of scams. It makes fraud feel less like isolated attempts and more like an organised industry. Adding a regulatory perspective, Chen Jee Meng, Head of Financial Crime Compliance at CIMB Singapore, pointed to the sheer scale of what Singapore is already facing. In 2024, Singapore recorded almost a 1,500% surge in deepfake fraud cases, with tests showing only a quarter of people could reliably distinguish fake videos from real ones. The takeaway that we can clearly see is that fraud has evolved into more of an organised industry, and even well-informed, educated consumers are struggling to tell fact from fabrication. Biometrics in the Crosshairs The panel then turned to authentication, once considered the strongest line of defence. For Lukas Bayer, who leads biometrics, user acquisition and experience at Jumio, the battlefield has shifted dramatically. Lukas pointed out that the number one attack vector that is happening right now is deepfakes and injection attacks. Lukas Bayer “In the past, it was high effort and little reward. Now it’s little effort and high reward,” he said. With generative AI, criminals can now easily generate not just selfies but entirely synthetic ID images, making large-scale attacks possible. We referenced a recent remark by OpenAI’s Sam Altman that “AI has fully defeated most of the ways that people authenticate currently,” and asked Lukas if this was true. His answer showed a glimmer of hope. “Biometrics are far from defeated,” Lukas replied. “That’s why you need a multi-layer defence strategy where you combine biometrics with device risk or identity intelligence.” The idea of layering defences would emerge again and again in the conversation. The Human Weak Link For all the talk of sophisticated attacks, the panellists were unanimous that the weakest link often remains the human being. Gabby stated that the vulnerability lies simply with the user. “No matter what kind of identification measures we put in, if fraudsters get into the psychology of the users, whatever measures you put in will be defeated,” he said. We’re often led to believe that the most targeted victims would be the elderly or the ones who are not that tech-literate. But recent news suggests otherwise. In Singapore, a company’s finance director nearly lost over US$499,000 to scammers using deepfakes to impersonate their CEO. If you look up North to Singapore’s closest neighbour, Malaysia, we have the infamous Maybank’s CFO incident. Chen agreed with that. He added that: Chen Jee Meng “Even smart and cautious people can be fooled. Scam messaging has become so scripted and industrialised that it is believable.” You see, the issue is not limited to the elderly or the less tech-savvy. The panel referenced recent cases in Hong Kong and Singapore where executives and professionals fell victim to deepfake scams involving millions of dollars. It seems like there’s a very human element to always have some form of vulnerability. “Sometimes all they need is one moment of distraction,” Vincent said. Are Banks Ready? This raised the inevitable question of whether incumbent banks, digital banks and also fintech players are prepared. For Albert, the answer depends on the type of institution. He argued that cloud-native players have an edge. Albert Dela Cruz “Traditional banks often have legacy inertia … digital banks are often cloud native, so we can integrate AI directly into fraud stacks and respond faster,” he said. There’s a sort of readiness divide. Gabby, representing one of the Philippines’ largest incumbent banks, stressed that the response cannot be left to technology alone. The Operations Group Head at Rizal Commercial Banking Corporation (RCBC) pointed to the need for stronger collaboration with regulators and law enforcement, supported by new laws in the Philippines that make it easier to pursue mule accounts and lift secrecy restrictions in fraud cases. He also pointed to new laws in the Philippines that empower authorities to go after mule accounts and lift traditional bank secrecy restrictions in fraud investigations. “We are moving where our clients need us to be,” Gabby added. Security and Experience If banks know they must strengthen defences, the challenge is how to do so without alienating customers. Lukas said that everyone wants to “add as much friction as possible to make it harder for fraudsters”, and at the same time, making sure that the end users do not feel it. Gabby, however, acknowledged that some degree of inconvenience is inevitable to us as end users. “For better or worse, there will be a bit more friction points with clients if we want to secure them. Even if you give them a really good experience, if they find they’ve been compromised, then the experience is terrible,” he said. Albert reframed the solution as “intelligent friction”. According to him, these are adaptive controls, such as passive biometrics or risk scoring, that activate only when needed. The idea of intelligent friction may prove to be the middle ground, allowing institutions to harden their defences without overwhelming customers with unnecessary barriers. A Shared Battle As the discussion wound down, the panellists looked ahead. They all agreed that the fight against AI-driven fraud is only beginning. “We see the AI arms race accelerating, but there’s also the need to have more collaborative defence,” said Albert Dela Cruz, who called for continuous, context-aware authentication to become the norm in digital banking. For Chee, the implications go beyond technology. He stressed that the response must also include people and policy. “Banking and compliance practitioners will continue to challenge whether risk frameworks are adequate … there might also be a push towards hiring new talent and training employees,” he said. That combination of better defences, smarter regulation, and deeper expertise may be what it takes to keep pace in the years ahead. The consensus was clear, and the panel agreed that no single actor can win this fight alone. Banks, fintechs, regulators, telcos and consumers all have a role to play. Plus, the balance will be delicate. Too much friction and customers may resist the very measures designed to protect them. Too little, and fraudsters will exploit the gaps. But remember, the stakes are too high for complacency. Tune in to the webinar on How AI is Transforming FSI’s Approach to Fraud, right down below. Featured image: Edited by Fintech News Singapore based on an image by Freepik. The post With US$1 Trillion Lost, Are Asia’s Banks Ready for AI Fraud? appeared first on Fintech Singapore.

audax taps AWS Partner Network to bring its plug-and-play banking stack to more banks in Asia Pacific and the Middle East. Backed by Standard Chartered, the Singapore-based fintech says the partnership with Amazon Web Services will help banks and financial institutions modernise systems, address infrastructure challenges and speed up digital transformation projects across both regions. By joining the AWS Partner Network, audax gains access to AWS’ technical expertise, advanced technologies and infrastructure resources, enabling it to deliver scalable, cloud-based solutions with greater speed and reliability. The company provides a full-stack digital banking platform with pre-integrated modules for onboarding, origination, payments, deposits and lending, designed to sit alongside existing core systems and deploy in as little as six months. audax has been appointed by Maybank Islamic to lead its digital transformation on AWS across Southeast Asia. It is also working with Jeel, the digital innovation arm of Riyad Bank, to roll out new banking capabilities in Saudi Arabia. Digital banking adoption in Asia Pacific is accelerating, with digital payments up 14% and digital lending rising 22% in Southeast Asia in 2024. audax says its platform helps incumbent and new banks upgrade legacy systems without operational disruption while launching new digital services. Mike Breen “We’re seeing tremendous demand from new and incumbent banks in the Asia Pacific, the Middle East and further afield, looking to launch new digital services and modernise their technology. This represents a significant milestone in democratising access to world-class digital banking technology. Joining the AWS Partner Network empowers us to meet our customers’ distinctive needs through secure, compliant, and agile cloud solutions, which is central to our go-to-market strategy,” said Mike Breen, Chief Commercial Officer of audax.     Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik   The post audax Taps AWS to Deliver Plug-and-Play Banking Tech Across APAC, Middle East appeared first on Fintech Singapore.

E-commerce is undergoing a profound transformation, triggered by artificial intelligence (AI) agents and the move from “machine-to-machine” (M2M) payments to truly autonomous “AI-to-AI” payments, says Sherman Jiang, a senior product executive specialized in consumer finance, fintech, and banking. This shift requires a complete rethinking of payment systems and introduces new challenges for product leaders to tackle In a recent post published on September 12, Jiang looks at the future of e-commerce and the potential impact of agentic AI on the space, and outlines the hurdles ahead. According to Jiang, unlike their older, rule-based M2M payments, agentic payments involve reasoning, learning, and acting with a purpose. These systems go beyond simply reordering a product when a sensor hits a preset threshold, and are instead capable of autonomously detecting that a user is running low on a product, searching for the best-rated options from local producers, negotiating a discount based on flash sales, placing the order, and paying for it. For product managers, this marks an unprecedented shift where the “customer” is no longer a single person anymore, but rather an intelligent, dynamic AI agent that needs new tools, new rails, and new safeguards. This requires product executives to build better wallets that can delegate payments securely, enabling commerce to become genuinely autonomous, he says. Fraud and liability challenges Though the shift to agentic commerce presents tremendous opportunities to improve customer support, drive greater efficiency, and offer tailored customer experiences, these changes also introduce new challenges, Jiang warns. Because AI agents operate at machine speed and scale, their activity may resemble criminal behavior under today’s fraud detection models. This will require a complete overhaul of fraud prevention strategies, moving away from the know-your-customer (KYC) models and towards so-called “know-your-agent” frameworks. The key here will be to build a trust infrastructure that’s capable of distinguishing a “good” AI from a “bad” one, a system which will likely rely on cryptographic tokens to prove identity and authority. For example, a user could prove their identity with a User ID Token. This token would act as a digital identification card that confirms the person is real and verified. Similarly, an AI agent acting on behalf of a user could be issued an Agent ID Token, which would work like a passport for the AI and establish its identity in the system. Finally, a Delegation Token could connect the two, and clearly define what the AI is authorized to do. Together, these three tokens would form a chain of trust between the human, the AI agent, and the relationship between them. Besides fraud, the shift towards agentic AI also raises new questions about liability and dispute resolution, in particular when an AI agent makes a purchase the user did not intend. Most traditional legal frameworks depend on the idea that someone acted intentionally or negligently. However, because AI agents make purchases that are technically authorized but which may go against the user’s actual intent, it produces a liability grey area. Compounding this is the so-called “agentic loyalty problem”, Jiang adds, where AI agents may prioritize the interests of the platform that deployed it rather the user’s best interests. For example, an agent could choose a more expensive item from a partner company even when a cheaper, more suitable option exists elsewhere. Incompatibility and infrastructure gaps Finally, the rise of agentic commerce also exposes limitations in legacy financial systems. These systems, which include credit cards, subscriptions, and batch settlements, are built for human-centric, high-value, low-frequency transactions. This makes them ill-fitted for high-frequency, low-value transactions that AI agents may need to make, such as paying for individual API calls, data, or computing resources on a “pay-per-use” basis, often for fractions of a cent. To address this, crypto-native technology players are entering the space with blockchain-based micropayment systems as the foundation for this new economy. Coinbase, for example, launched in May 2025 x402, a payment protocol that enables instant stablecoin payments directly over HTTP. The solution is designed to let APIs, apps, and AI agents to transact seamlessly. Beyond payments, blockchain-based infrastructure could also supply the core primitives that traditional systems lack, Jiang argues. This includes a secure and immutable ledger, verifiable identities, and smart contracts for autonomous value transfer. AI agents see rapid adoption AI agents are rapidly entering digital commerce, driven by growing customer demand. A July 2025 US consumer survey by Boston Consulting Group (BCG) found that 81% of consumers expect to shop using agentic AI. BCG estimates that in the coming years, more than US$1 trillion in spending, representing about 50% of total e-commerce expenditure today, could be agent assisted. Early adoption will likely be concentrated in routine and repeat purchases, such as household supplies, restaurant orders, personal care, and vitamins/supplements, rather than high-ticket or high-emotion purchases such as luxury goods or medical devices. Major players, including Google, PayPal, Visa, and Mastercard, are already racing to capture the agentic AI shift. Source: Boston Consulting Group US Agentic Commerce Survey, July 2025       Featured image by tete_escape on Freepik The post The Rise of AI Agents in E-Commerce Introduces New Opportunities and Challenges for Product Leaders appeared first on Fintech Singapore.

Vietnam’s central bank is ordering banks to report every domestic transfer of VND500 million or more starting this November to tighten its anti-money laundering oversight, according to a report by The Investor Vietnam. The new rules also cover cross-border payments, requiring transactions of US$1,000 or higher to be reported to regulators. Financial institutions have until the end of December to adapt their internal systems and processes before full compliance takes effect on January 1, 2026. The State Bank of Vietnam (SBV) said the new measures are designed to bring the country’s banking system in line with international standards on anti-money laundering, counter-terrorism financing and preventing the funding of weapons proliferation. By early 2026, banks and other financial service providers will need to deploy automated monitoring software capable of screening transactions against blacklists, watchlists and databases of politically exposed persons (PEPs) to flag suspicious activity. The regulations also introduce stricter customs reporting thresholds for travelers. Anyone carrying negotiable instruments, platinum, gemstones or other precious metals (excluding gold) worth VND400 million (about US$15,100) or more across borders must declare them at customs. Existing rules on cash and gold declarations will remain unchanged. The SBV has positioned these measures as a key step to bolster financial transparency and improve oversight of high-value transactions. With the new framework, Vietnam aims to close loopholes in its banking system and reinforce its compliance with global anti-money laundering obligations.     Featured image: Edited by Fintech News Singapore, based on image by alidrian via Freepik The post Vietnam to Require Banks to Report Domestic Transfers of VND500 Million and Above appeared first on Fintech Singapore.

Small businesses in India and Brazil can now accept payments directly within WhatsApp, using QR codes to let customers pay instantly without leaving the app. The payments feature was one of several updates WhatsApp highlighted at its second Business Summit in India, held in Mumbai. It is designed to make sales faster and more seamless for small firms already using the WhatsApp Business app. WhatsApp also introduced a new calling option that allows people to contact larger businesses directly from the app or receive calls they have requested. This capability is available on the WhatsApp Business Platform in India and will later include voice messages and video calls. Some businesses are also starting to experiment with AI support for handling customer queries over voice calls. Marketing tools are being expanded through Ads Manager, which now lets businesses in India coordinate campaigns across WhatsApp, Facebook and Instagram using shared creative assets, setup flows and budgets. Companies can upload their subscriber lists, manage campaigns manually or use Meta’s automated Advantage+ system to optimise budgets across platforms. Discoverability is another focus. The Updates tab, used by 1.5 billion people globally each day, is gaining ads in Status, promoted channels and channel subscriptions to help brands reach more users. Companies such as Maruti Suzuki, Air India and Flipkart are already testing these features, while channels like Jio Hotstar are using promoted channels. These tools are being rolled out gradually in India and remain separate from users’ personal chats and inbox. Another change allows small businesses to use both the WhatsApp Business App and the WhatsApp Business Platform simultaneously under the same phone number. This gives them flexibility to automate high-volume customer interactions while maintaining day-to-day engagement on the app. Government agencies in India are also expanding their use of WhatsApp for citizen services. States such as Odisha, Maharashtra, Andhra Pradesh and Tamil Nadu have partnered with WhatsApp to launch official chatbots. Andhra Pradesh’s Mana Mitra chatbot, for instance, offers more than 700 services and has been accessed by 4 million citizens in multiple languages.     Featured image: Edited by Fintech News Singapore/Malaysia, based on image by Meta The post Small Businesses in India and Brazil Can Now Accept Payments Directly on WhatsApp appeared first on Fintech Singapore.

Private credit platform Kilde has secured US$1.5 million in funding to tap a wave of investor demand for higher-yield alternatives. The Pre-Series A round was led by Purple Ventures, through its second fund, with participation from existing investors. The fresh funding will be used to expand Kilde’s team, upgrade its technology and capital markets capabilities, and position the platform to access larger borrowers and higher-quality deals. Founded in 2019, Kilde’s assets under management have surpassed US$127 million. The company connects family offices, funds and accredited investors to private credit opportunities across Europe and Asia, focusing on senior-secured lending to consumer and SME lending platforms. Kilde offers investors annual returns ranging from 10.5 to 13.5 percent and reports no defaults to date. It holds a Capital Markets Services license issued by the Monetary Authority of Singapore. Radek Jezbera “We’ve officially crossed USD 127 million in AUM on our platform. That means investors choose simplicity, safety, and stable returns. They chose Kilde. We are one of the fastest-growing wealth platforms in Singapore. USD 1 billion AUM is no longer a dream but a plan with budgets and milestones.” said Radek Jezbera, CEO and Co-founder of Kilde.     Featured image: Edited by Fintech News Singapore, based on image by Na_st via Freepik     The post Kilde Raises US$1.5 Million to Grow Its Private Credit Platform appeared first on Fintech Singapore.

Singapore’s United Overseas Bank (UOB) and UnionPay International are rolling out a new campaign that provides up to 5% cashback for cardholders traveling in mainland China. The SplendorPlus campaign runs until 31 December 2025 and targets UOB UnionPay cardholders. The offer comes as travel between Singapore and China accelerates. Changi Airport recorded a 15.8% year-on-year rise in passenger traffic between the two countries in the second quarter of 2025, nearly triple the airport’s overall growth of 5.9% for the same period. Under the programme, UOB UnionPay cardholders earn 2% base cashback on all eligible local and overseas retail spending with no minimum spend required. They receive an additional 3% cashback on in-store and online purchases in mainland China processed through the UnionPay network. This brings the total cashback to 5%, capped at S$50 per card each month. The offer does not apply to transactions made through third-party mobile wallets like Alipay and WeixinPay. The campaign reflects UOB and UnionPay’s ongoing partnership to improve cross-border payment options for customers in Asia. UnionPay cards issued by UOB are widely accepted across retail, dining, transport and tourist outlets in Singapore and China, helping cardholders enjoy seamless transactions abroad.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post UOB UnionPay Cardholders Can Earn Up to 5% Cashback on Mainland China Spending appeared first on Fintech Singapore.

Equinix has opened its first International Business Exchange (IBX) data centre in Chennai, named CN1, to support India’s digital growth and AI (AI) ecosystem. The facility, located on a six-acre site in Siruseri, will be interconnected with Equinix’s Mumbai campus, which currently consists of three IBX data centres. The initial investment of US$69 million provides 800 cabinets of capacity, with long-term plans to expand to 4,250 cabinets. The facility is designed for 99.999% uptime and will offer the company’s interconnection services, including Equinix Fabric, which enables enterprises to use hybrid multicloud services. CN1 is also prepared to support liquid cooling technology, required for high-density and compute-intensive workloads associated with AI and other advanced technologies. As Tamil Nadu positions itself as a centre for research, innovation and AI investment, Chennai is becoming an important hub for these developments. This new data centre is intended to support the state’s role in India’s wider digital transformation and technological ambitions. India continues to prioritise the adoption of emerging technologies such as AI, quantum computing, blockchain and edge computing, which require significant computing power and data resources. The opening of CN1 is described as a step towards building the necessary digital infrastructure for these advances. Equinix currently serves more than 300 companies in India, including network service providers and five internet exchanges. Its Mumbai campus hosts a cloud ecosystem with direct connections to providers such as Amazon Web Services, Google Cloud, Microsoft Azure and Oracle Cloud. The addition of CN1 in Chennai is expected to provide local customers with low-latency access to this ecosystem and enable secure connectivity with partners and providers. Manoj Paul, Managing Director, India, Equinix, said: Manoj Paul “Our success in building the most interconnected ecosystem for cloud, carrier, content and enterprises in Mumbai will now be extended to customers in Tamil Nadu. Similarly, global enterprises planning to come closer to their customers in southern India now can leverage Equinix’s IBX facility in Chennai.” “With CN1’s cutting-edge capabilities, we look forward to enabling businesses in Chennai and across India to leverage future-ready, scalable and digital infrastructure that supports sustainability to expand their business in Tamil Nadu and globally.” The CN1 facility incorporates several measures to improve efficiency and environmental performance. These include a fault-tolerant design to ensure high reliability, readiness for liquid cooling to support AI deployment, multiple fibre paths for resilience, and a commitment to sourcing renewable energy, including investment in solar and wind. Globally, Equinix operates more than 270 data centres across 77 markets in 36 countries, serving over 10,000 businesses.   Featured image credit: Equinix The post Equinix Opens First Chennai Data Centre appeared first on Fintech Singapore.